Bill Miller, a veteran investor, experienced portfolio manager, and founder of the firm Miller Value Partners reiterated his support for the cryptocurrency Bitcoin (BTC). Cryptocurrency enthusiasts were reminded of Miller’s strong support for BTC during his recent conversation with William Green.
William Green is a veteran journalist and noted author. The conversation also saw Miller expressing skepticism for altcoins, the cryptocurrencies that came into existence after Bitcoins (BTC).
The legendary investor also spoke of his opinion on several cryptocurrency topics such as Coinbase and dispensed with some invaluable advice for cryptocurrency investors.
Miller’s Thoughts of Confidence on Bitcoin (BTC) – BTC Less Risky Today
During the conversation, Miller compared his strong belief in the potential of Bitcoins with one of his earlier winning beliefs. His rigid belief in Amazon stock at the time when the dot-com bubble burst is one of his renowned stories of investment success.
Miller has been a well-known advocate of cryptocurrencies. He subscribes to the rising belief that Bitcoin represents digital gold. Miller has also been at the forefront of investors keen on the digital asset space.
It should be remembered that Miller had allocated 30% of his investment portfolio to Bitcoin (BTC) in 2016. Recently, the seasoned investor filed a motion with the Securities and Exchange Commission (SEC) so that Miller Opportunity Trust could invest in Bitcoin (BTC) through Grayscale Bitcoin Trust.
Miller also opined that Bitcoin is a less risky investment today than it was earlier. He pointed out the current cryptocurrency scene where a variety of tokens are available. He opined that the chance that a few of these tokens show potential for the future is meager.
On the contrary, cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETC) are more likely to stand the test of time, he shared. He also expressed a view that investment firms and banks must consider investing in the cryptocurrency. Miller supported Coinbase as a growth investment.
Bitcoin (BTC) has Enormous Potential
Miller opined that Bitcoin (BTC) could increase 10-fold in value if only investors could accept it as a value-yielding asset. Even with this surge, Bitcoin (BTC) would only be at the start of its enormous potential, Miller opined.